Pave Blog

Announcing the New Cash Advance History Score Dashboard

Written by Amelia Chikota | Jul 13, 2023 9:58:36 AM

We’re excited to announce the launch of our new Cash Advance History Score (CAHS) dashboard!

As a refresher, the Cash Advance History Score summarizes your customers’ repayment rate across providers for cash advances of varying amounts. This allows you to offer higher advances to new and existing users, given their repayment history.

Company CAHS Dashboard

This dashboard reveals insights including:

  1. What competitors your customers are using 
  2. How many customers have positive repayment history with competitors 
  3. Which of your customers are receiving higher advances from other providers

Check out this video which gives an overview of the dashboard:

How the Cash Advance History Score Works

  • Pave’s matching algorithm accurately labels every cash advance and its corresponding repayment.
  • Pave calculates a 3-digit score that summarizes the user’s cash advance repayment rates across different amounts and repayment windows including 7, 15, and 30 days
  • The scores are broken down as follows:
    • Excellent: 850 to 999
    • Good: 720 to 849
    • Average: 590 to 719
    • Poor: 100 to 589

For example, let’s say a user’s CAHS is 830 for advances between $100 – $200. This means that the user has a good history of repayment within 30 days. A score of 400 would mean they have a poor history of repayment within 30 days.

The score enables you to:

  • Personalize cash advance amounts or credit limits 
  • Increase retention by offering higher limits for users with good or excellent scores
  • Increase approvals for new users with good or excellent scores

For more information, check out this blog post explaining more details about the Cash Advance History Score.

Reach out to howdy@pave.dev if you’d like to explore this dashboard, and we’ll provide access!

 

 
View full post